The European Bank for Reconstruction and Development (EBRD) has recommended recommending the postponement of the wholesale electricity market opening in Ukraine, since the current state of groundwork for its implementation is not complete and the detailed regulatory and technical infrastructure required for a successful market is not yet in place.
According to a press release of the bank, on this basis, launching the new market on 1 July is likely to cause market malfunctioning and, therefore, be counterproductive to the interests of Ukrainian consumers and market participants.
“A postponement of the market opening should be, however, accompanied by a clear action plan of sequenced steps that would ensure its smooth introduction,” the bank said, adding that the EBRD is ready to offer all of its support in ensuring that this delay is as short as possible.
The EBRD said that the bank strongly endorse the introduction of a liberalized, competitive wholesale market in the power sector as the best route to deliver the highest possible efficiency in the generation of electricity.
